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Homework answers / question archive / -Imagine that a bacterial problem occurs at a beef slaughter plant that kills hundreds of people

-Imagine that a bacterial problem occurs at a beef slaughter plant that kills hundreds of people

Economics

-Imagine that a bacterial problem occurs at a beef slaughter

plant that kills hundreds of people. The government reacts by imposing stricter regulations that increase the cost of the cattle/beef supply chain. Using an economic model explain the impact of these new safety regulations on the prices paid by consumers for beef, and on the prices paid to farmers for cattle and  how economic model would change if consumers began to substitute pork and chicken for beef because of health concerns. 




-Carbon taxes on fossil fuels would increase the cost of supply chain services like transportation and processing in the bakery industry. Wheat producers would be exempt from the carbon tax because their crops provide a carbon offset. Using an economic model explain the net economic impact on the bread supply chain, if the government cut income taxes to reduce the impact of carbon taxes on bread consumers 




-The demand for urban transport is complex, but the two most important considerations, usually, are time and money. The speed of transport and the cost of providing transport are closely related. Using an economic model explain the considerations that can modify an individual's demand for urban transportation. 




-Some products have elastic demands, while other goods have inelastic demands. Typically, the derived demand for transport follows a similar pattern to the elasticity of the final good, but not always. The share of transportation costs in the final price of the goods may be large or small, regardless of the product's own demand elasticity, and this can affect the elasticity of the derived demand for transport. With the aid of an appropriate economic model(s) explain the conditions in which the derived demand for transport would be elastic or inelastic. 




-With the aid of an appropriate economic model(s) explain how the imposition of new tariffs on imports of Canadian goods in the US are likely to affect the demand for international (transborder) transportation. 

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